Choosing the right home loan can be very difficult. At Nieuvision, we take the stress out of finance.
When it comes to choosing the right home loan, there is no simple answer. With so many different products available, you will greatly benefit from having a professional by your side, sorting through the options with you. The Home Loans Adelaide experts at Nieuvision are dedicated to helping you find and secure the right home loan for you.
We know that buying your new home is a lengthy process and that getting a home loan is just one of the many formalities you have to carry out before you can move in, so our highest priority is to get your loans settled as quickly as possible. Our comprehensive Home Loans Adelaide service will get you the outcome you want. You’ll get to enjoy our exceptional service and commitment to results, while always having a local consultant directly within reach, for any of your questions along the way.
We can provide you with a number of different loans, depending on your financial situation and what your individual goals. Our extensive experience in all things lending means that if you’re not sure about what sort of loan is right for you, we can provide expert advice and guidance so that you can come to a decision you’re completely happy with.
First Home Buyers
Making your first step into the property market with your first home can be daunting, but the team at Nieuvision have designed a number of strategies to help make the process easier. We act as your mortgage broker by giving you several low deposit home loan options from varying funders to choose from, as well as our own loan product, so you can get your foot in the door as fast as possible. Our loans vary in their size, maturity, interest rate and method of payment, so that you can tailor a loan that works for you!
Are You Eligible for the First Home Owners Grant (FHOG)?
If you’re buying or building your first home then you may be eligible for the $15,000 First Home Owners Grant, which you can use towards your deposit and fees & charges.
In South Australia this applies to the purchase or construction of any new residential property including a house, unit, flat, townhouse or apartment that meets local planning standards.
You can find the full list of eligibility requirements and information about how to apply for the Grant at RevenueSA, and we can help you with your application if you need. If you live in other states of Australia, you can find information about the FHOG in your state on the official website.
Buying an investment property is much the same as buying your own home, but with slightly different loan options that are structured specifically to help you make the most of your assets and build your wealth.
We’ll help you develop an investment plan that will allow you to be prepared for the inevitable highs and lows of the housing market, and work towards securing your financial freedom.
Our commercial loans are designed to help small businesses finance their immediate working capital needs, such as business expenditures or operations which present high upfront costs and regulation related hurdles.
We can provide term loans, unsecured loans and a line of credit to help you fund your large and small scale business operations because we understand that small businesses generally don’t have direct access to the debt and equity markets for financing.
Standard Variable and Fixed Rate Loans
We offer both standard variable and fixed rate loans so you can choose one that works for you.
Variable rate loans will usually have a slightly higher interest rate than the basic fixed loan, but they also offer more features and flexibility. The rate will rise and fall with the market index, so your repayment will lower every time the rate of interest does.
Fixed rate loans are set at an established interest rate for a specified period – usually 1 to 5 years. This gives you the ability to organise and manage your finances and repayments in advance without rising interest rates, however it does mean that you will not get the benefit of a drop in rates.
If you’re not sure we can talk you through both types of loans so you have a better understanding of what will suit your situation.
These loans have lower repayments for the first 6 to 12 months, which is a great option for first home buyers who are expecting their financial situation to improve. After the initial ‘honeymoon period’ the loan becomes a standard variable loan and the repayments will increase for the remainder of the loan, so you need to ensure that you’ll be in a position to continue to meet those repayments.
We offer bridging loans to cover the financial gap between buying a new property and selling your existing one. These loans allow you to move ahead with your new home instead of having to wait for the sale of your old one, and it works like any other normal loan with interest-only repayments until your existing property has been sold and the principal can be fully repaid.
We can also help you secure your loan and financial freedom with a range of risk and life insurance products, through our valued partnership with leading insurance brokerage firm About Risk. We offer free consultations, so even if you are already currently insured for your home or business we can give you a second opinion to help you guarantee your peace of mind.
Find Out What You Can Afford
Our home loan calculators can help you get an idea of how much you can afford to borrow, your estimated repayments, and how long it will take you to pay off your loan. Simply enter a few details and you will get a projected calculation to help you plan for your loan.
While we do everything we can to ensure the accuracy of our home loan calculators, you should keep in mind that the results are an indication only. Speak to one of our expert consultants for exact information.
Our Top Tips for Getting a Home Loan
We aim to make our home loans Adelaide service as simple as possible, but there are a few things you can do to help fast track your application.
- Be able to prove your income. This includes documents such as payslips, employment details and recent tax returns. If lenders can see that your home loan repayments won’t exceed more than 30% to 35% of your gross monthly income, your loan is more likely to be approved.
- Minimise your debts. Reduce as many of your outstanding debts as you can, including any credit card debts and car and loan repayments. If you can’t pay them off completely, be able to show that your payments are up to date on all of your monthly bills such as your mobile phone, credit card and electricity bills.
- Save. Be able to demonstrate that you have the ability to save. Having a minimum of 5% of the purchase price of the property in genuine savings, and not just as a gift from a family member, will help prove this.
- Find a guarantor. Having a guarantor such as a parent or other family member will show that your loan application can be financially supported by securing it against their home.
- Be able to prove you can make repayments. Demonstrate that you can make consistent repayments by showing bank statements or a repayment history of a previous loan, such as a car or personal loan.
- Minimise your loan applications. Don’t apply for multiple loans over a short period of time, because every application you make will show on your credit file. And if you have been declined for previous loan applications it can leave a mark on your credit history.
Pay Off Your Loan Faster
Once you’ve been approved for a home loan, you’ll want to start thinking about paying it off as quickly as possible. There are three ways you can repay your home loans off earlier than planned:
- Increase the frequency of your repayments. Making weekly or fortnightly repayments instead of monthly repayments will help you save on interest and pay off your loan sooner. For example, if you choose to pay fortnightly, you’ll pay half of your monthly repayments each fortnight. And because there are 26 fortnights in each year it will add up to the equivalent of 13 monthly repayments, which will add an extra month to your total yearly repayment and reduce your principal faster. It will also help you build equity in your home (equity is the difference between the value of your property and the amount you still owe on your home loan).
- Make larger repayments. Pay more than your required repayment amount whenever you can, to reduce the term of your loan. And don’t lower your repayment amount if interest rates fall and the minimum repayment requirement is reduced, because by maintaining the regular repayment that you are already used to, you are effectively making extra payments into your loan.
- Make lump sum payments. Deposit any spare savings into your loan as soon as you can. By making extra lump sum repayments, especially in the early years of your mortgage, your total repayment amount could end up being less as you won’t have compounding interest over time.
Using these methods whenever you can will help you pay off your loan faster, putting you well on your way to owning your own home.